Tag Archives: Jewelry

Diamond, Gemstones, Gold, Jewelry, Silver, Watches

Why You Should Avoid Pawning Jewelry

Posted on by Julianne Jacobs
Pawn shop from the old West, where pawning jewelry likely occurred
18
Aug

When you first think of pawning jewelry or pawn shops, you may think of the TV show “Pawn Stars,” or maybe even a Quentin Tarantino film. However, pawn shops aren’t just an American practice, although more than 30 million Americans use pawn shops yearly. The practice of pawning has been around for centuries, dating back to ancient China. Today, it’s a $14.5 billion industry with 11,000+ pawnbrokers across the U.S. While pawning jewelry or other valuables might seem like a great way to get quick cash, educating yourself on the industry, the process, and its setbacks is essential. Here are some reasons why avoiding pawn shops might be in your best interest and some alternative options to get cash for your jewelry. What Are Pawn Shops, And How Do They Work? A pawn shop (also called a pawnbroker) is a business that loans money to people who bring in valuable items, which they then leave with the pawn shop. The valuables left behind are known as “collateral,” meaning security for the loan provided by the pawn shop. The person can get their valuable item(s) back from the pawn shop if they pay back the money the pawn shop loaned them with interest. However, suppose the person doesn’t repay the loan and interest within an agreed-upon timeline. In that case, the pawnbroker can sell the valuable item to another customer to get back the money the pawn shop loaned. How Do Pawn Shops Make Money? Pawn shops make money in two ways: (1) making personal loans and (2) selling unclaimed collateral items. Providing Personal Loans Pawn shops give out personal loans to individuals who relinquish custody of an item, such as jewelry or electronics. The amount a pawn shop is willing to lend is based on a few different factors: the value of the item, the pawnshop’s inventory at the time of the loan, and demand for the item. Since individuals seeking a pawn loan typically can’t qualify for a traditional bank loan, the risk of default is higher. That’s why pawn shops make loans with substantially higher interest rates than banks typically charge for personal loans. State law governs the amount of interest a pawn shop is allowed to charge. In Texas, the maximum pawn shop rate is 240% APR! That’s high!  Reselling Pawn shops’ second primary income source is retail sales on unclaimed merchandise and items purchased outright from individuals. How Much Will Pawn Shops Give For Your Jewelry? If you are considering pawning jewelry, you might wonder how much pawn shops offer. Unfortunately, selling your jewelry to pawn shops guarantees the lowest amount of money in exchange for your items, thanks to the business model we outlined above. While pawn shops tend to offer more money to purchase items outright than to lend against them, it still will only get you about 50% of the value of your jewelry. Even if you need cash in a pinch, there are more lucrative ways to sell and get more out of the value of your jewelry. Alternatives to Pawning Jewelry If you want more money out of your jewelry, there are better ways! It also makes sense to outright sell jewelry you no longer want or need, rather than taking out a loan with a pawn shop. Those interest rates are no joke, especially in Texas! Here are some other, more lucrative, ways to sell your jewelry: Selling Online While this isn’t a great option if you need cash on the spot, you can sell your jewelry online to get more value out of your jewels. eBay is a great, safe option for everyday sellers. If you end up needing to do an in-person transaction, here are some do’s and don’ts to ensure your safety: DON’T agree to meet strangers alone. DON’T give out your address. DO meet in a safe, public place. DO accept cash only. Dallas Gold & Silver Exchange We’ve been around since the 1960s. We’ve stood the test of time by offering customers the most for their jewelry and being a trustworthy source of information. If you don’t believe us, shop around before you come to see us! We’ll give you the best offer and the best experience with our friendly, knowledgeable associates. You can bring your jewelry to any of our metroplex locations during our business hours at your convenience. No appointment is necessary. Want to learn more about the selling process at Dallas Gold & Silver Exchange? Let Loreina walk you through the easy process by clicking the video below!

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Diamond, Engagement

J. Lo’s Green Diamond

Posted on by Julianne Jacobs
Photo of a green diamond and Ben Affleck and Jennifer Lopez
25
Apr

Jennifer Lopez’s love don’t cost a thing, but she still got a pretty solid engagement ring from Ben Affleck! J. Lo’s newest engagement ring features an 8.5-carat ultra-rare green diamond with white diamonds. Affleck and Lopez were previously engaged in the early 2000s, so this is technically their second engagement and second engagement ring. The celebrity ring is worth a whopping $5-$7 million! If you’re like us, you might want to learn more about green diamonds and how they come to be. Read on to learn more about this beautiful phenomenon! About Green Diamonds The most common diamond colors are clear, black, and brown. Other colors are much rarer; Bennifer’s first engagement ring was a pink diamond, even more rare than the green one she dawns now. Another rare and highly sought-after color of a diamond includes blue. You may have heard of quite a famous blue diamond: The Hope Diamond. Green diamonds result from specific imperfections in the diamond’s structure, most commonly caused by radiation damage. In a clear diamond, every color gets reflected. However, in a green diamond, radiation from nearby uranium or thorium ore can hit a diamond’s carbon structure and cause light to bounce off it differently, creating a green hue.    There are reports of green diamonds in nearly every country that produces diamonds. However, according to GIA, some localities consistently dig up more of these valuable stones. These countries include Brazil, Guyana, Venezuela, Zimbabwe, and India. The largest green diamond is the 41-carat Dresden Green Diamond. From the Golconda mines in India, it has a clarity of VS1 and potentially internally flawless, if slightly recut.  While every diamond is unique, we love the imperfections that create a specialty color diamond. In fact, we think this imperfect diamond is the perfect choice for the rekindled Bennifer romance! What do you think?

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Jewelry, Watches

How to Disinfect Your Jewelry

Posted on by Julianne Jacobs
22
May

We’re all washing our hands more frequently these days — or at least, we should be. It’s one of the most important components of stopping the spread of COVID-19. But do you disinfect your jewelry? What about your watch? According to the CDC, studies have shown that skin underneath rings contains more germs than skin without rings. Yuck. If wearing jewelry is part of your daily routine, cleaning it should be a part of it, too. Here’s how to disinfect your jewelry and daily accessories: How to Disinfect Your Diamond Jewelry Diamonds are unique because they are the hardest natural substance on Earth. You should clean your diamond jewelry regularly, especially if its a wedding/engagement ring you wear every day. Diamonds and most colored gems can be cleaned with warm water, mild dish soap (no detergents) and a soft brush, according to GIA. Be sure to rinse your jewelry in a glass of water to remove cleaning solutions rather than rinsing with running water. That way, you won’t lose any loose stones. How to Disinfect Your Rolex Watches Luxury watches, like Rolex require special care and services every few years. Between visits, you can keep your Rolex clean and germ-free by following these steps: Screw down the crown. According to Rolex, “the crown of your Rolex screws down tightly to create a hermetic seal like the hatch of a submarine.” This important step will keep your watch waterproof and safe during cleaning. Fill a small bowl with water and a bit of mild soap. Soaps with harsh chemicals could damage your Rolex Scrub the watch gently with a soft toothbrush. Dip the brush in the cleaning solution and scrub the watch everywhere, including between the links and lugs. Rinse the watch under warm water. Make sure all the soap is washed away to avoid residue. Dry using a microfiber cloth. This will prevent scratching and leave your Rolex shining like new! How to Disinfect Your Silver Jewelry For polishing and disinfecting silver, we recommend using specially-made silver wipes, like these ones from Weiman. These wipes were made to remove tarnish, polish dull and discolored metal with a mild, fresh-scented formula. For those stuck at home, here’s a home remedy from The Today Show: What you’ll need: A dish or a bowl Aluminum foil Boiling water 1 tbsp of baking soda for each cup of water What you’ll do:  Line the bottom of a dish or a bowl with aluminum foil.  Bring water to a roaring boil (it should be enough to fill that bowl or dish).  Add 1 tbsp of baking soda per cup of water. Expect that the solution may bubble and froth a bit.  Place the piece of silver jewelry in the dish, making sure that it’s touching the aluminum foil. This is essential for the chemical reaction to occur.  Pour the solution of baking soda and boiling water into dish.  Let sit for two to 10 minutes, depending on the level of tarnish.  Allow it to dry. How to Disinfect Your Smart Watches and Fitness Trackers For smart watches and fitness trackers, we recommend using alcohol pads. You can purchase these online or at any drug store. This will disinfect your accessory without damaging the materials in the process. Other Cleaning Tips It’s also important to note that hand sanitizer should not be used on any organic gems like pearls, opals or turquoise. The alcohol in the sanitizer can dry out the gems leading to permanent damage. When in doubt, take off your jewelry before washing your hands. We at Dallas Gold & Silver Exchange offer free jewelry cleaning services to our customers! No matter the metals or stone, we can get your jewelry squeaky-clean and shining like new. We are still practicing social distancing amid the COVID-19 crisis and disinfecting our high-traffic areas. We just ask that customers wear a protective mask when they come see us.  

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Gemstones, Gift, Jewelry

June Birthstone Spotlight: Moonstone, Pearl & Alexandrite

Posted on by Julianne Jacobs
16
Jun

Lucky you, June babies! You have not one, not two, but THREE lovely gemstones to choose from as your birthstone. Most consider pearls as the primary birthstone for the month of June, while Moonstone and Alexandrite are alternatives. All of these stones are rich in their own unique beauty and history. Keep reading to find out more about your lovely birthstones and why you get more than one. Why are there three June birthstones? The Jewelers of America put together the first official list of birthstones in 1912, listing only Pearl and Moonstone for June. It wasn’t until 1952 that Alexandrite was added to the June birthstone list. We guess three was just the lucky number for June! Pearl Like other gemstones, pearls form naturally, slowly for as long as two decades. Unlike other gemstones, mollusks, such as oysters and clam create pearls. Depending on what part of the world the mollusk is from, it changes the pearl type. Due to their rarity and difficulty to find, natural pearls have remained an expensive stone since ancient times. They were revered among royalty and nobility alike and symbolized purity, integrity and love. Moonstone When we say “gemstone,” moonstone may not be the first one that comes to mind. They aren’t as popular as pearls, but we think they are a modern, beautiful alternative. Their adularescence is the first thing you’ll notice in the moonstone. According to GIA, “adularescence is the light that appears to billow across a gemstone, giving its surface a glowing appearance.” Visually, the glow has a moon-like quality, which is where the name moonstone comes from. In the picture above, you can see a moonstone both in its rough form and polished. FUN FACT: The moonstone is the Florida State Gemstone to commemorate the moon landings that took off from Kennedy Space Center. Alexandrite The Alexandrite is one of the newer gemstone discoveries. It was discovered in the Russian Ural Mountains in 1830 and wasn’t added to the birthstone list until 1952. Known as the chameleon of the gemstone family, it’s an “emerald by day, ruby by night” due to its color-changing tendencies. It’s bluish-green in daylight and reddish-purple in lower light. Due to its toughness on the Mohs scale, it makes a great option for rings or bracelets. Just be sure to clean it with warm, soapy water. If you enjoy our gemstone spotlights, follow us on this blog, Instagram and Facebook. Did you miss our May Birthstone Spotlight? Check it out here!

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Diamond, Jewelry

The Tiffany Yellow Diamond: The True Star of the 2019 Academy Awards

Posted on by Julianne Jacobs
Lady Gaga in Black Dress
01
Mar

The 2019 Academy Awards hosted hundreds of movie stars, famous directors, producers, and creators. Unsurprisingly, Lady Gaga was one of the most anticipated stars to walk the red carpet — but not for a meat dress or sky-high heels. While she typically rocks daring looks, Lady Gaga was the epitome old Hollywood glamour in an Alexander McQueen gown, matching leather opera gloves, and the famous Tiffany Yellow Diamond around her neck. What’s So Special About The Tiffany Yellow Diamond? The Tiffany Yellow Diamond is one of the largest Fancy Yellow diamonds in the world. It has only been worn a handful of times. Not only is this the first time this diamond has seen the flash of paparazzi cameras at an award show, it is the first time it has been worn by a starlet since 1961. Last worn by Audrey Hepburn in promotional photos for Breakfast at Tiffany’s, Tiffany’s released this diamond from their vault specifically for Lady Gaga. She introduced this diamond to the glitz and glamour of modern Hollywood along with Tiffany & Co. white and yellow diamond earrings as accessories. The stone weighs over 128 carats and was discovered by Charles Lewis Tiffany, founder of Tiffany & Co., 141 years ago in South Africa. “The rarity, beauty and sheer magnetism of the Tiffany Diamond are unprecedented,” said Tiffany & Co. chief gemologist Melvyn Kirtley. The legendary diamond is a brilliant cushion cut with a unique 82 facets — it is said to be priceless. What Does Dallas Gold & Silver Have to Offer? While we don’t quite have a diamond of this size at Dallas Gold & Silver Exchange, we have plenty of diamonds that probably fit within your budget! Come in and see our collection of GIA-certified diamonds for sale whether you are looking to make a splash or for the perfect stone for an engagement ring. We have everything from cushion cuts like the famous Tiffany diamond mentioned, to pear and heart-shaped diamonds.

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